Key facts
- George E. Johnson, founder of Johnson Products Company, died at 99.
- Johnson Products was the first Black-owned company listed on the American Stock Exchange.
- The company was known for products like Ultra Sheen and Afro Sheen.
- Johnson founded Johnson Products in 1954 with a $500 loan.
- He also founded Independence Bank and sponsored 'Soul Train'.
George E. Johnson, the visionary businessman behind Johnson Products Company, has died at the age of 99. Johnson, a pioneer in the African American hair care market, founded his company in 1954 with a modest $500 loan. Johnson Products became a household name with popular products like Ultra Sheen and Afro Sheen, and notably, it was the first Black-owned company to be listed on the American Stock Exchange in 1971.
Born in Richton, Mississippi, Johnson moved to Chicago and began working in the cosmetics industry before striking out on his own. His entrepreneurial spirit extended beyond hair care; he also founded Independence Bank in 1964 and became the exclusive sponsor of the iconic television show "Soul Train" during the 1970s. Throughout his career, Johnson received numerous accolades for his business acumen and contributions to the community.
Johnson was married to Joan Betty Henderson, who co-founded the company with him. He later married Madeline Murphy Rabb.